Dodd-Frank News Center

Proposed revisions to the Call Report for June 2018

This story appeared in Bank Digest. 

In their continuing effort to reduce data reporting and other burdens for small and large institutions, the federal banking agencies, as members of the Federal Financial Institutions Examination Council, are requesting comment on further burden-reducing revisions to all three versions of the Call Report (FIL-58-2017). These changes include the removal or consolidation of existing data items and certain new or increased reporting thresholds. The Call Report revisions are proposed to take effect June 30, 2018. Institutions are encouraged to comment on the proposal by Jan. 8, 2018.

Agencies propose combining stress test information collection reports

This story appeared in Bank Digest. 

The Office of the Comptroller of the Currency, Federal Reserve Board, and Federal Deposit Insurance Corporation, under the auspices of the Federal Financial Institutions Examination Council, have approved the publication for public comment of a proposed information collection entitled "Annual Dodd-Frank Act Company-Run Stress Test Report for Depository Institutions and Holding Companies with $10-$50 Billion in Total Consolidated Assets" (FFIEC 016). According to the agencies' joint notice, this proposed report would combine the agencies' three separate, yet identical, stress test report forms, which are currently approved information collections, into a single new FFIEC report.                                   

As part of their proposed adoption of the new FFIEC 016 report, the agencies also are proposing to implement a limited number of revisions that would align the report with recent burden-reducing changes to the FFIEC 031 and FFIEC 041 Consolidated Reports of Condition and Income and the Fed's FR Y-9C Consolidated Financial Statements for Holding Companies. In addition, the agencies are proposing to have institutions provide their Legal Entity Identifier on the report form, if they already have one. Comments must be submitted by Dec. 5, 2017.

Agencies seek approval of revised 'advanced approaches capital reporting' information collection

This story appeared in Bank Digest.  

The Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency are proposing to extend for three years, with revision, a currently approved information collection for each agency entitled "Risk-Based Capital Reporting for Institutions Subject to the Advanced Capital Adequacy Framework" (FFIEC 101). The FFIEC 101 is completed only by banking organizations subject to the advanced approaches risk-based capital rule, which generally applies to banking organizations with $250 billion or more in total consolidated assets or $10 billion or more in on-balance sheet foreign exposures.

On March 1, 2017, the agencies, under the auspices of the Federal Financial Institutions Examination Council, requested public comment on the proposal (see 2017 No. 685). The comment period ended on May 1, 2017, and the agencies did not receive any comments addressing the proposed changes, so they are now submitting requests to the Office of Management and Budget for review and approval of the proposal. The proposed reporting changes would take effect as of the Sept. 30, 2017, report date.

Comments on the current notice must be submitted by July 3, 2017.

Agencies propose revisions to 'advanced approaches capital reporting' information collection

This story appeared in Bank Digest.

The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency, under the auspices of the Federal Financial Institutions Examination Council, have approved the publication for public comment of proposed revisions to the Regulatory Capital Reporting for Institutions Subject to the Advanced Capital Adequacy Framework (FFIEC 101). The FFIEC 101 is currently an approved information collection for each agency and is completed only by banking organizations subject to the advanced approaches risk-based capital rule, which generally applies to banking organizations with $250 billion or more in total consolidated assets or $10 billion or more in on-balance sheet foreign exposures.

The agencies are inviting comment on a proposal to remove two items from FFIEC 101 Schedule B. Comments must be submitted by May 1, 2017.

Revised interagency examination procedures announced

This story appeared in Bank Digest.

The Office of the Comptroller of the Currency has announced that the Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council has developed revised interagency examination procedures for the Truth in Lending Act, implemented by Regulation Z, and the Real Estate Settlement Procedures Act, implemented by Regulation X.

According to the OCC, these procedures reflect Consumer Financial Protection Bureau amendments to Regulations Z and X that were published in the Federal Register in December 2013 and February 2015. OCC examiners will use the revised procedures beginning Aug. 1, 2015.\

• Interagency TILA/Regulation Z Examination Manual Narrative
• Interagency TILA/Regulation Z Examination Procedures
• Interagency RESPA/Regulation X Examination Manual Narrative
• Interagency RESPA/Regulation X Examination Procedures

 

Guidance issued on private student loans with graduated repayment terms at origination

This story appeared in Bank Digest.

Federal financial regulatory agencies, in partnership with the State Liaison Committee (SLC) of the Federal Financial Institutions Examination Council, have issued guidance for financial institutions on private student loans with graduated repayment terms at origination. The guidance provides principles that financial institutions should consider in their policies and procedures for originating private student loans with graduated repayment terms.

FDIC releases revised interagency consumer compliance examination procedures

This story appeared in Bank Digest.

The Federal Deposit Insurance Corporation has released revised interagency consumer compliance examination procedures for the mortgage rules issued pursuant to the Dodd-Frank Act. The release of these examination procedures is part of the FDIC's ongoing efforts to inform supervised institutions about important bank regulatory developments in order to promote transparency in the FDIC's supervisory program. The examination procedures should be helpful to financial institutions seeking to better understand the areas the FDIC will focus on as part of the examination process.

CFPB takes action to improve information on access to credit in mortgage market

This story appeared in Bank Digest.

In an effort to better understand borrowers' access to credit, the Consumer Financial Protection Bureau is taking steps to improve information reported about the residential mortgage market. As a first step in the rulemaking process, the CFPB is convening a panel of small businesses to provide feedback on potential changes to mortgage information reported under the Home Mortgage Disclosure Act (HMDA). The CFPB indicated it will work to ease the cumbersome process of collecting and submitting HMDA information for lenders. In addition, in coordination with the Federal Financial Institutions Examination Council, the bureau has launched a new HMDA tool that provides the public with easier access to mortgage data for 2007 through 2012.

Appraisal Subcommittee Policy Statement Finalized

This story appeared in Bank Digest.

The Federal Financial Institutions Examination Council  Appraisal Subcommittee requested comments in August 2012 on a proposal to revise its policy statements providing guidance to ensure state appraiser regulatory programs comply with Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. Following consideration of the comments received, the FFIEC is finalizing the revised policy statement.

Proposed Rule Would Require Written Policies on Loan Workouts and Nonaccrual Policies

This story appeared in Bank Digest.

The National Credit Union Administration has issued a proposed rule to require federally insured credit unions (FICUs) to maintain written policies that address the management of loan workout arrangements and nonaccrual policies for loans, consistent with industry practice or Financial Institutions Examination Council requirements. The proposed rule includes guidelines set forth as an interpretive ruling and policy statement (IRPS) and incorporated as an appendix to the rule that will assist FICUs in complying with the rule, including the regulatory reporting of troubled debt restructured loans in FICU Call Reports. The NCUA Board believes this proposal and IRPS is timely considering the growth of these types of loans during the recent economic stresses experienced in the financial industry.